Homework Answers
|
Date |
Accounts |
Debit |
Credit |
|
2019 |
|||
|
Feb. 1 |
Interest payable |
747 |
|
|
Mortgage expense (1250*1.0025) |
1253 |
||
|
Cash |
2000 |
||
|
Date |
Accounts |
Debit |
Credit |
|
2019 |
|||
|
Mar. 1 |
Interest payable |
744 |
|
|
Mortgage expense (1253*1.0025) |
1256 |
||
|
Cash |
2000 |
||
|
Date |
Accounts |
Debit |
Credit |
|
2019 |
|||
|
Mar. 1 |
Interest expense |
1167 |
|
|
Interest payable |
5833 |
||
|
Notes payable |
20000 |
||
|
Cash |
27000 |
Part 2
|
Emergency Pharmacies Balance Sheet (Partial) March 1, 2019 |
||
|
Liabilities |
||
|
Current Liabilities: |
||
|
Current Portion of Mortgage Payable (300000-280919-1250-1253-1256) |
15322 |
|
|
Current Portion of Notes Payable |
20000 |
|
|
Total Current Liabilities |
35322 |
|
|
Long-term Liabilities: |
||
|
Mortgage Payable |
280919 |
|
|
Notes Payable |
600000 |
|
|
Total Long-term Liabilities |
880919 |
|
|
Total Liabilities |
$916241 |
|
Beginning balance |
Principal payment |
Interest expense |
Total payment |
Ending balance |
|
|
12/01/2018 |
300000 |
||||
|
1/01/2019 |
300000 |
1250 |
750 |
2000 |
298750 |
|
2/01/2019 |
298750 |
1253 |
747 |
2000 |
297497 |
|
3/01/2019 |
297497 |
1256 |
744 |
2000 |
296241 |
|
4/01/2019 |
296241 |
1259 |
741 |
2000 |
294982 |
|
5/01/2019 |
294982 |
1263 |
737 |
2000 |
293719 |
|
6/01/2019 |
293719 |
1266 |
734 |
2000 |
292453 |
|
7/01/2019 |
292453 |
1269 |
731 |
2000 |
291184 |
|
8/01/2019 |
291184 |
1272 |
728 |
2000 |
289912 |
|
9/01/2019 |
289912 |
1275 |
725 |
2000 |
288637 |
|
10/01/2019 |
288637 |
1278 |
722 |
2000 |
287359 |
|
11/01/2019 |
287359 |
1282 |
718 |
2000 |
286077 |
|
12/01/2019 |
286077 |
1285 |
715 |
2000 |
284792 |
|
1/01/2020 |
284792 |
1288 |
712 |
2000 |
283504 |
|
2/01/2020 |
283504 |
1291 |
709 |
2000 |
282213 |
|
3/01/2020 |
282213 |
1294 |
706 |
2000 |
280919 |
Add Answer to:
Requirement 1. Journalize the transactions in the Emergency Pharmacies general journal. Round all answers to the...
The following transactions of Emergency Pharmacies occurred during 2018 and 2019: (Click the icon to view...
The following transactions of Emergency Pharmacies occurred during 2018 and 2019: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize the transactions in the Emergency Pharmacies general journal. Round all answers to the nearest dollar. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.) Mar. 1, 2018: Borrowed $100,000 from Margate Bank. The five-year, 7% note requires payments due annually, on March 1. Each payment consists of $20,000 principal plus...
More Info 2018 Mar. 1 Borrowed $525,000 from Naples Bank. The 15-year, 5% note requires payments...
More Info 2018 Mar. 1 Borrowed $525,000 from Naples Bank. The 15-year, 5% note requires payments due annually, on March 1 . Each payment consists of $35,000 principal plus one years interest. Mortgaged the warehouse for $150,000 cash with Sandi Bank. The mortgage requires monthly payments of $2,000. The interest rate on the note is 6% and accrues monthly. The first payment is due on January 1, 2019. Recorded interest accrued on the Sandi Bank note. Recorded interest accrued on...
Requirement 1. Journalize the transactions for the company. (Record debits first, then credits. Select explanations on...
Requirement 1. Journalize the transactions for the company. (Record debits first, then credits. Select explanations on the last line of the journal entry.) Oct. 1, 2018: Purchased equipment costing $80,000 by issuing a five-year, 8% note payable. The note requires annual principal payments of $16,000 plus interest each October 1. Accounts and Explanation Credit Date Debit 2018 Equipment 80,000 Oct. 1 Notes Payable 80,000 Purchased equipment by issuing a 5-year, 8% note. Dec 31, 2018: Accrued interest on the note...
Long-Term Liabilities 789 > Problems Group A P14-32A Journalizing liability transactions and reporting them on the...
Long-Term Liabilities 789 > Problems Group A P14-32A Journalizing liability transactions and reporting them on the balance sheet The following transactions of Johnson Pharmacies occurred during 2018 and 2019: Learning Objectives 1,5 2. Total Liabilities 5653,334 2018 Mar. 1 Borrowed $450,000 from Coconut Creek Bank. The 15-year, 5% note requires payments due annually, on March 1. Each payment consists of $30,000 principal plus one year's interest. Dec. 1 Mortgaged the warehouse for $250,000 cash with Saputo Bank. The mortgage requires...
ents due annually, on March 1. Each payment consists of $20,000 principal plus one year's interest....
ents due annually, on March 1. Each payment consists of $20,000 principal plus one year's interest. redit More Info 2018 Mar. 1 Borrowed $300,000 from Bartow Bank. The 15-year, 9% note requires payments due annually, on March 1. Each psyment consists of $20,000 principal plus one year's interest Dec. 1 Mortgaged the warehouse for $400,000 cash with Sammon Bank. The mortgage requires monthly payments of $6,000. The interest rate on the note is 6 % and accrues monthly. The first...
PLease answer the last three journal enteries The following transactions of My Tunes Music Company occurred...
PLease answer the last three
journal enteries
The following transactions of My Tunes Music Company occurred during 2018 and 2019 1 (Click the icon to view the transactions.) 1. Record the transactions in My Tunes' journal. Explanations are not required. Date Accounts Debit Credit 2018 Dec 31 6850 d Warranty Payable 6860 Transactions Dec 31: Accrued interest on the outstanding note payable. 2018 Mar Journal Ent 3 Purchased a piano (inventory) for $55,000, signing a six-month, 896 note payable. Borrowed...
Consider the following transactions for Mad Dog Music. (Click the icon to view the transactions.) Journalize...
Consider the following transactions for Mad Dog Music. (Click the icon to view the transactions.) Journalize all transactions for Mad Dog Music, Round all amounts to the nearest dollar (For notes stated in days, use a 365-day year. Round your final answers to the nearest whole dollar. Record debits first, then credits. Exclude explanations from journal entries.) Dec. 6: Received a $15,000, 90-day, 10% note in settlement of an overdue accounts receivable from All Star Date Accounts Debit Credit 2018...
> Problems Group A P11-31A Journalizing liability transactions and reporting sheet The following transactions of Smith...
> Problems Group A P11-31A Journalizing liability transactions and reporting sheet The following transactions of Smith Pharmacies occurred during 2016 and 2017: 2016 Mar. 1 Borrowed $240,000 from Naples Bank. The eight-year, 7% note requires payments due annually, on March 1. Each payment consists of $30,000 principal plus one year's interest. Dec. 1 Mortgaged the warehouse for $150,000 cash with Sawyer Bank. The mortgage requires monthly payments of $6,000. The interest rate on the note is 11% and accrues monthly...
The following transactions of Smith Pharmacies occurred during 2016 and 2017 (Click the icon to view the transactions) 1. Joumalze the transactions in the Smch Pharmacies general joumal. Round all an...
The following transactions of Smith Pharmacies occurred during 2016 and 2017 (Click the icon to view the transactions) 1. Joumalze the transactions in the Smch Pharmacies general joumal. Round all answers to the nearest dollar. Explanations are not required 2 Prepare the labities section ef the balance sheet for Smith Phiarmacies en March 1, 2017 af.er all the jounal entries are reccrded Requirement 2. Prepare the liabilities section of the balance sheet for Smich Pharmacies on March 1, 2017 after...
The following transactions of Emergency Pharmacies occurred during 2018 and 2019: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize the transactions in the Emergency Pharmacies general journal. Round all answers to the nearest dollar. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.) Mar. 1, 2018: Borrowed $100,000 from Margate Bank. The five-year, 7% note requires payments due annually, on March 1. Each payment consists of $20,000 principal plus...
More Info 2018 Mar. 1 Borrowed $525,000 from Naples Bank. The 15-year, 5% note requires payments due annually, on March 1 . Each payment consists of $35,000 principal plus one years interest. Mortgaged the warehouse for $150,000 cash with Sandi Bank. The mortgage requires monthly payments of $2,000. The interest rate on the note is 6% and accrues monthly. The first payment is due on January 1, 2019. Recorded interest accrued on the Sandi Bank note. Recorded interest accrued on...
Requirement 1. Journalize the transactions for the company. (Record debits first, then credits. Select explanations on the last line of the journal entry.) Oct. 1, 2018: Purchased equipment costing $80,000 by issuing a five-year, 8% note payable. The note requires annual principal payments of $16,000 plus interest each October 1. Accounts and Explanation Credit Date Debit 2018 Equipment 80,000 Oct. 1 Notes Payable 80,000 Purchased equipment by issuing a 5-year, 8% note. Dec 31, 2018: Accrued interest on the note...
Long-Term Liabilities 789 > Problems Group A P14-32A Journalizing liability transactions and reporting them on the balance sheet The following transactions of Johnson Pharmacies occurred during 2018 and 2019: Learning Objectives 1,5 2. Total Liabilities 5653,334 2018 Mar. 1 Borrowed $450,000 from Coconut Creek Bank. The 15-year, 5% note requires payments due annually, on March 1. Each payment consists of $30,000 principal plus one year's interest. Dec. 1 Mortgaged the warehouse for $250,000 cash with Saputo Bank. The mortgage requires...
ents due annually, on March 1. Each payment consists of $20,000 principal plus one year's interest. redit More Info 2018 Mar. 1 Borrowed $300,000 from Bartow Bank. The 15-year, 9% note requires payments due annually, on March 1. Each psyment consists of $20,000 principal plus one year's interest Dec. 1 Mortgaged the warehouse for $400,000 cash with Sammon Bank. The mortgage requires monthly payments of $6,000. The interest rate on the note is 6 % and accrues monthly. The first...
PLease answer the last three
journal enteries
The following transactions of My Tunes Music Company occurred during 2018 and 2019 1 (Click the icon to view the transactions.) 1. Record the transactions in My Tunes' journal. Explanations are not required. Date Accounts Debit Credit 2018 Dec 31 6850 d Warranty Payable 6860 Transactions Dec 31: Accrued interest on the outstanding note payable. 2018 Mar Journal Ent 3 Purchased a piano (inventory) for $55,000, signing a six-month, 896 note payable. Borrowed...
Consider the following transactions for Mad Dog Music. (Click the icon to view the transactions.) Journalize all transactions for Mad Dog Music, Round all amounts to the nearest dollar (For notes stated in days, use a 365-day year. Round your final answers to the nearest whole dollar. Record debits first, then credits. Exclude explanations from journal entries.) Dec. 6: Received a $15,000, 90-day, 10% note in settlement of an overdue accounts receivable from All Star Date Accounts Debit Credit 2018...
> Problems Group A P11-31A Journalizing liability transactions and reporting sheet The following transactions of Smith Pharmacies occurred during 2016 and 2017: 2016 Mar. 1 Borrowed $240,000 from Naples Bank. The eight-year, 7% note requires payments due annually, on March 1. Each payment consists of $30,000 principal plus one year's interest. Dec. 1 Mortgaged the warehouse for $150,000 cash with Sawyer Bank. The mortgage requires monthly payments of $6,000. The interest rate on the note is 11% and accrues monthly...
The following transactions of Smith Pharmacies occurred during 2016 and 2017 (Click the icon to view the transactions) 1. Joumalze the transactions in the Smch Pharmacies general joumal. Round all answers to the nearest dollar. Explanations are not required 2 Prepare the labities section ef the balance sheet for Smith Phiarmacies en March 1, 2017 af.er all the jounal entries are reccrded Requirement 2. Prepare the liabilities section of the balance sheet for Smich Pharmacies on March 1, 2017 after...
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 10 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 10 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 10 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 10 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 10 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 10 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 10 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 10 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 10 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 10 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 10 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 10 months ago